COVID-19 Effect on Consumer Payment Systems : Establishing Cause & Effect Relationship

The SARS-Cov2 pandemic has fanned the public concerns that the virus can be transmitted through handling cash which is a crucial part of our daily life and also of human behaviour. The study is an effort to underline some of the wide variables of cashless payments that are aroused due to the spread of the disease and to show their cause and effect on payment systems in the scenario of 2020 pandemic. Consumer payments system is a practical and applied component of behavioural finance theory, which do not limits itself to investment but extends to the individual his notch behaviour and adaptability pertaining to the finance, cash and capital he possess and tends to use or utilise in a particular manner in the new unexpected situation which is aroused due to the COVID-19. The study is empirical in nature and carried out on the System Dynamics approach which described their inherent nature and relationship within and between them establishing a non linear relationship and much facet relationship between the variables with co linearity within themselves as they are connected, affected, and caused by each other